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Develop an alternative to CoinMarketCap, but with more features, and Dash as the sole sponsor.

Discussion in 'Pre + Budget Proposal Discussions' started by solarguy, Jan 7, 2018.

?

Would you vote Yes to fund a Dash branded alternative to CoinMarketCap for $5k x 6 months?

  1. Yes.

  2. No, because _____________________

  3. Maybe, tell me about ____________________.

Results are only viewable after voting.
  1. TanteStefana

    TanteStefana Grizzled Member
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    I actually had no idea you could type trading pairs in that spot, which is perfectly usable for now, but a hint would be nice to add so others don't overlook it, like I did :) In fact it was a complete accident i found that out :D
     
  2. ICJR

    ICJR New Member

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    @TanteStefana The input field there is powered/provided by the TradingView API, I can't edit that specific section but I am implementing a dropdown that lets users select all trading pairs available so the chart is only loaded if a user wants to view the chart and the pair is exactly what you are looking for.
     
  3. ICJR

    ICJR New Member

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    @feedbands No =/ I have my eye on about 5 domains, domain re-sellers have purchased nearly every coin/crypto type domains, all the good ones anyway. Once we proceed with the proposal I plan on purchasing one of the domains we have been looking at. The main 3-4 domains I am looking at are being sold for several thousand BUT they will be more than worth the price.
     
  4. TanteStefana

    TanteStefana Grizzled Member
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    Well, that might become too many pairs to scan through? Maybe just have the trading pairs that are available, and show them against ... ugh, does this make sense? :

    BTC ETH USD Euro
    Dash Dash Dash Dash
    ETC ETC ETC ETC
    BCH BCH BCH BCH etc

    So the top is a main choice, and those below are the coins where they are actively being traded against the top list?
     
  5. TanteStefana

    TanteStefana Grizzled Member
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    Ugh, that didn't line up :p
     
  6. ICJR

    ICJR New Member

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    @TanteStefana Are you trying to say it would be easier to select the coin/token to limit the pairs then select the pair?
     
  7. feedbands

    feedbands Active Member

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    PM Sent. I've been communicating with solarguy on a domain that I think would be a game changer for obvious reasons. It's your proposal 100% but I do hope you consider the domain. You can likely acquire it for $2,000 but is likely worth millions.
     
    • Like Like x 1
  8. ICJR

    ICJR New Member

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  9. TanteStefana

    TanteStefana Grizzled Member
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    Yah, I'm so brain dead, but yah, LOL, After doing that, in my haze for the night, I thought, "he knows how to do that stuff, just shut up" LOL Seriously, I'm losing it, my brain is so fried!!!
     
  10. Loxoceles

    Loxoceles New Member

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    great idea. full support!
     
  11. Santos Bermúdez Ruiz

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    Hey guys.

    I have one question, how do you plan on deciding which markets will be accounted when calculating the different stats? What metrics will you be using?

    Also, would love to see you develop an app (for both Android and iOS) thats more functional and aesthetically appealing than the other options on the market. I believe there is great potential on that segment.

    Overall great idea, wish you luck!

    Cheers,

    Santos
     
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  12. AlfredoLec

    AlfredoLec New Member

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    Hello ICJR!

    Great proposal! Have you thought on giving a list of exchanges and its characteristics? Also volume, not only in the last 24 hours like some do, that would be very useful for many new traders, I think liquidity is very important when trading.

    Good luck, I really look forward for your proposal to be accepted!

    Cheers
     
  13. ICJR

    ICJR New Member

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    @Santos Bermúdez Ruiz I thought about this and came to the conclusion that we ( the site ) should stay out of the decision entirely. By this I mean our job will be to list the prices/volume, etc. of all exchanges and allow users to filter out the exchanges they use/recognize etc. Otherwise you ( the user ) will forever be dependent or at the mercy of our ( the sites ) decisions, the CMC issue is the most recent example of being at the mercy of the site/service.
     
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  14. ICJR

    ICJR New Member

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    All of that data is already being collected and will be displayed on the next iteration/upgrade of the service. Next major update should be within 1-2 weeks.
     
  15. ICJR

    ICJR New Member

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    No problem :D
     
  16. Santos Bermúdez Ruiz

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    Very well thought. Although I would love if the site could offer rating based suggestions for the selection of exchanges so that people with less experience have some guide for the selection.

    Besides that, love the customizability idea!!

    You have my support,

    Cheers,

    Santos
     
  17. solarguy

    solarguy Active Member

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    You, the end user, will get to pick and choose which exchanges go in to produce your data. Of the competitors in this space, the best example I saw allowed you to click a button to include or exclude S. Korean exchanges. So really, nothing even close to what ICJR is plotting.
     
  18. solarguy

    solarguy Active Member

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    And we now have a Dash ad in the sidebar, mostly as a placeholder. The kind/type/extent of the ad will be tailored to what the Masternode community wants of course.
     
  19. demo

    demo Well-known Member

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    Coinmarketcap refers to fiat money as capital.
    This is unfair.
    I would like this alternative marketcap to give to the viewer the option to choose his own coin as a reference coin.
    For example this is what we see in coinmarketcap:
    1 Bitcoin $134.752.409.816 $7.995,93 $9.851.830.000 16.852.625 BTC 7,49%
    2 Ethereum $78.185.208.928 $802,05 $4.191.660.000 97.481.471 ETH 7,17%
    3 Ripple $29.221.803.584 $0,749100 $1.031.490.000 39.009.215.838 XRP * 2,70%
    4 Bitcoin Cash $16.759.821.443 $988,45 $1.141.660.000 16.955.625 BCH 7,25%
    5 Cardano $8.993.997.061 $0,346896 $575.767.000 25.927.070.538 ADA * 1,68%
    6 Litecoin $7.848.386.948 $142,39 $931.843.000 55.120.883 LTC 2,76%
    7 NEO $7.285.005.000 $112,08 $637.513.000 65.000.000 NEO * 10,61%
    8 Stellar $6.573.294.312 $0,356621 $165.600.000 18.432.157.140 XLM * 2,89%
    9 EOS $5.296.284.770 $8,08 $683.385.000 655.597.628 EOS * 3,41%
    10 NEM $5.156.909.999 $0,572990 $46.291.900 8.999.999.999 XEM * -1,12%
    11 IOTA $4.821.595.591 $1,73 $67.222.400 2.779.530.283 MIOTA * 8,41%
    12 [​IMG] Dash $4.302.342.334 $546,58 $80.634.900 7.871.329 DASH 7,23%

    Why do they sort coins based on FIAT money capitalization? Fiat money is yet another coin.

    So let this new marketcap sort the coins upon the choice of the viewer. I would like to sort the coins based on dash capitalization as reference, for example.
     
    #49 demo, Feb 8, 2018
    Last edited: Feb 8, 2018
  20. ICJR

    ICJR New Member

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    This is similar to the request from @TanteStefana it paved the way for something like this. I will be adding this the feature list/roadmap.

    I also want to share that we launched the proposal this morning https://www.dashcentral.org/p/cmc-alternative I am looking forward to reading everyone's feedback!
     
  21. Nick Chant

    Nick Chant New Member

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    This is a great Idea. I am about to enter a pre-proposal. But not having posted on the forums before I've got to get three posts before i can add links so apologise if you feel this message is spam. I've read a lot on these forums and solar guy seems like an awesome community member!
     
  22. solarguy

    solarguy Active Member

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    Thanks to the community for all the useful feedback for making our proposal.

    https://www.dashcentral.org/p/cmc-alternative

    I see we are getting some trolling from MrHack. He inquired about buying a share of the project privately, and now thinks it's useless and won't go any where. It's good to see the early and enthusiastic no-vote come out. This is what the democratic process looks like. Plenty of time for the supportive crowd to intervene.
     
  23. RealMrHack

    RealMrHack New Member

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    Solarguy its not trolling when. Clearly I amongst others
    as an MNO dont see the roi for the network..

    Yes for a limited potential I had personal interest for data mining, until i figured i could do it alternatively.
     
  24. solarguy

    solarguy Active Member

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    Regarding ROI.

    ICJR has proven history of marketing a site to get significant traffic.
    He already has a functional website up, along with a real roadmap to add substantial features. So there is a guaranteed deliverable.

    The monetization plan gives Dash views from the ideal demographic. If the site grows slowly, the ad cost is tiny to Dash, and even at that small volume, the price 1/2 of the market rate.

    If the site grows quickly, the value of the Dash marketing zooms up quickly, and still is 1/2 of the market rate.

    If the site gains even 10% of the traffic CMC gets, the 1/2 price deal saves substantial costs for marketing, tens of thousands of dollars per month. That's real money in my universe.

    And if the site really gains traction, the 1% cap could save the Dash community 100's of 1,000's of dollars.
     
  25. RealMrHack

    RealMrHack New Member

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    its about ROI for the network not for icjr

    And also it would enter the dash network into implied agreement to be a perma customer
     
  26. solarguy

    solarguy Active Member

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    The agreement is not implied at all. It is stated right out front, and available as a signed contract with core. 1/2 price on the objectively measured ad cost, for life, and aimed at the perfect demographic.

    Dash is under no obligation to fund this, but if they do, that's the big payoff. They get a signed contract for a killer price for life, with a cap that makes it super attractive in the event the site does well. But even if the site has only modest success, it's still a killer price for marketing to the idea demographic.
     
  27. RealMrHack

    RealMrHack New Member

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    Well first dash network pays to fund the entire development, icjr has no skin in the game, if it fails he still has been paid to create the site.

    Then we must pay again for ads?

    He should at the very least give the network 2 years of free advertising.
     
  28. ICJR

    ICJR New Member

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    I have been talking to other MN's and began exploring this idea to return the funds to the Dash treasury https://www.dash.org/forum/threads/exploring-dash-proposal-rev-share-loans.28845/ let me know what you think.
     
  29. solarguy

    solarguy Active Member

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    Most of the proposal funding is for marketing. He did a substantial amount of development work before he ever approached the Dash network. Don't forget, there is already a functional product. The funds for marketing is indirectly (but primarily) for Dash.

    Perhaps you missed the part about paying for ads, at half the market rate. Would you rather have 12 free golden eggs, or half of a 100 golden eggs?
     
  30. solarguy

    solarguy Active Member

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    There have been concerns, or questions regarding the “poor” or non-existent return on investment that this proposal offers to the Dash community. My first thought was to ask if those with questions had actually done the math to calculate the ROI or not. Let's do that for a minute because the numbers are pretty revealing.

    For a moment, we’re just going to ignore the possibility that we actually surpass the volume of CoinMarketCap. While I think that is possible, given the ambitious roadmap and features, we would have to get lucky to do that in a year.

    Based on the marketing we are looking at, and the other competitors in the space, I think we can realistically generate 10% of the traffic that CMC has within the next 4-6 months

    The average Google CPM ( Cost Per Thousand visits ) is $1 - $10 for normal sites, for the following scenarios I will use a conservative $5 CPM for simplicity.

    10% of CMC Traffic: 36.8M Visits
    Full Market Price: Visits x $5 CPM = $184K/Month
    Dash Price: Full Market Price * 50% = $92K/Month
    Thanks to the 1% Dash Treasury Cap, Dash Price: $40k
    Actual discount or savings for dash, 184,000 - 40,000 = $144,000

    Boom, $144,000 (amount Dash is saving) / $75,000 (amount Dash invested) = 192% ROI

    Outside of the crypto industry, an ROI in 5-7 years is considered pretty good. That’s a 15-20% per annum return. Of course, crypto doesn’t exactly play by the typical rules. But an ROI of 192% in one month (after hitting 10% of CMC volume) seems pretty spectacular.

    But again, this relationship with Dash was designed to be a good deal for Dash under many possible scenarios. Let’s say we are wildly optimistic in our projections and we only capture 1% of the CMC traffic by 6 months.

    1% of CMC Traffic: 3.7M Visits
    Full Market Price: Visits x $5 CPM = $18.5K/Month
    Dash Price: Full Market Price * 50% = $9.25K/Month

    Ok, still not too shabby. Dash makes 12% return on their investment, per month. If we fail to continue growing, Dash would completely recover the initial investment within 8.3 months.

    But let’s consider the “wildly successful” scenario. With good marketing, great features, and continued development in response to the feedback of the Dash community, and the larger crypto community, what do those numbers look like?

    100% of CMC Traffic: 368.21M Visits
    Full Market Price: Visits x $5 CPM = $1.84M/Month
    Dash Price: Full Market Price * 50% = $920K/Month
    Thanks to the 1% Dash Treasury Cap, Dash Price: $40k

    Holy crap batman, if this blows up to CMC-like volumes, the value of the ad to Dash is discounted by $880,000 per month.

    So in every scenario we have looked at, from generating a mere 1% of CMC traffic, all the way to 100% of CMC traffic, Dash gets a good return, all the way to fantastic return.

    If anyone questions our math, kindly point out the flaw or incorrect assumptions.
     

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